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Member of Centerra Gold Inc Board of Directors comments on situation with decrease of value of stocks.

The member of the Board of Directors of Centerra Gold Centerra Gold Inc. (TSX: CG) is the gold mining company headquartered in Toronto, Canada.

The company was formed and went public in 2004 when Saskatoon, SK-based Cameco Corp.
 Inc, Amangeldy Muraliev, today commented on the situation with decrease of value of securities of the company during visit to the Kumtor mine. He explained the decrease of value of shares with two factors. "Firstly, the decrease is connected with man induced reasons. The move of the glacier glacier, moving mass of ice that survives year to year, formed by the compacting of snow into névé and then into granular ice and set in motion outward and downward by the force of gravity and the stress of its accumulated mass.  increased in April and its speed reached 1 meter a day. This is why the measures were adopted to ensure safety for workers and the production process. Equipment was removed from the pit and development of a a new safer zone started. A big volume of stripping operations was required. It was necessary to secure the move of the glacier. All equipment was used to lessen less·en  
v. less·ened, less·en·ing, less·ens

v.tr.
1. To make less; reduce.

2. Archaic To make little of; belittle.

v.intr.
To become less; decrease.
 the glacier. The move of the glacier is stopped now," Amangeldy Muraliev said. The time was lost, however. Besides, there were political risks, the road to the Kumtor mine was blocked, he added. "Then the parliamentary commission worked, which made a lot of noise. I agree with foreign analysts, who said that many judgments of the parliamentary commission were superficial and biased, this is why the state commission was created. I think the Parliament made a right decision. At the same time, political risks are of a high level and they affect the value of securities. The Centerra Gold Inc is a joint stock company, public company, its shares are listed at the Toronto stock exchange Toronto Stock Exchange (TSE)

Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options.
. Naturally, the whole world monitors the situation in mining companies, Muraliev said.

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Publication:AKIpress News Agency
Date:Jul 6, 2012
Words:265
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